Enel and GE EFS sign in Chisholm View tax equity

Enel Green Power North America and GE Energy Financial Services have signed on the $220 million tax equity financing for their Chisholm View wind project in Oklahoma. The providers are JP Morgan, which led the deal, as well as Wells Fargo and MetLife. The financing will close in the fourth quarter of 2012, when the plant is expected to come online, and the capital contribution agreement becomes a tax equity agreement. GE bought a 51% stake in the project from Enel, which retains 49%, in March 2012, though Enel has the right to regain a 26% stake over the next 18 months. The 230MW project uses 140 GE 1.6MW turbines, is located in Garfield and Grant counties, Oklahoma, and will sell power to Southern Company's Alabama Power under a 20-year power purchase agreement.